ADES Holding announced that several offshore rigs in the Gulf Cooperation Council region have been temporarily suspended amid ongoing regional tensions on March 24. The company stated that these suspensions are short-term in nature and it remains operationally ready to resume work.
The company projected EBITDA for the 2026 financial year to range between SAR4.5 billion ($1.2 billion) and SAR4.87 billion. This forecast represents an increase of 33-44 per cent from the 2025 upper-end guidance of SAR3.39 billion.
ADES Holding reported that its outlook is supported by improved performance from its acquisition of Shelf Drilling and the realisation of expected synergies. It also cited momentum across its international platform and favourable day-rate dynamics in selected markets.
The company remarked that its scale and geographic diversification, with 123 rigs deployed across 20 countries, allow it to withstand short-term disruptions. Activities in its production model are currently benefiting from a supportive oil price and brownfield production optimisation.
Chief Executive Officer Mohamed Farouk said, “Our 2026 guidance reflects the stronger visibility we now have across the business and the benefits of our expanded platform following the Shelf Drilling acquisition.”